BillingPlatform, an enterprise revenue lifecycle management platform based in Denver, Colorado, grabbed a growth equity funding of $90 million from FTV Capital to advance its enterprise revenue lifecycle management position. The cloud-based platform, renowned for optimizing the customer lifecycle, is set to leverage this investment for global expansion.
Additionally, an existing investor, Columbia Capital, contributed as an institutional investor with minority investments. The infusion of funds aims to accelerate the company’s growth trajectory and enhance its position in the dynamic $10 billion market, growing at a rate exceeding 10 percent annually.
Led by CEO Dennis Wall, BillingPlatform empowers businesses through software solutions that optimize revenue generation across the entire customer lifecycle. The cloud-based platform caters to global enterprises across diverse industries, including software, finance, media, transportation, and communications.
“In addition to FTV’s financial investment, the firm adds tremendous value through its deep domain expertise and understanding of sector trends as well as its extensive Global Partner Network of more than 500 executives at 150 of the world’s leading enterprises,” said Dennis Wall, CEO of BillingPlatform.
Significant Achievements
Last year witnessed BillingPlatform’s remarkable growth, securing major deals with J.P. Morgan, CooperSurgical, Juniper Square, and Class, augmenting its impressive roster of enterprise customers.
“Enterprises are hungry for cloud-based solutions, but historically, automated billing software has been difficult to adopt and lacked flexibility. As the industry demands greater product leadership, BillingPlatform will accelerate growth in both new and core verticals and drive market leadership,” said Kyle Griswold, a partner at FTV Capital.
The company’s three-year revenue growth rate of 296 percent underscores its prominence in the market. Notably, BillingPlatform received accolades in industry analyst reports, earning top rankings from Forrester Research, MGI Research, and Ventana Research.
“BillingPlatform delivers a modern, highly configurable and automated approach that helps customers drive significant operational efficiency and create new revenue streams – comprehensive of recurring, usage-based, subscription and other hybrid business models – that have become mission critical for businesses,” said Richard Liu of FTV Capital.
BillingPlatform’s notable clients include Carrier, CCC Intelligent Solutions, Cloudera, Panera, DIRECTV, GoCardless, and Vantage Towers. The company has been a fast-growing entity on Deloitte’s Technology Fast 500 for four consecutive years.
FTV Capital’s Strategic Investment
FTV Capital’s investment aligns with BillingPlatform’s significant achievements and growth. With a flexible funding approach, FTV Capital has raised $6.2 billion since its inception in 1998, investing over $5.2 billion in 140 portfolio companies. Kyle Griswold and Richard Liu from FTV Capital will contribute to BillingPlatform’s strategic direction as board members.
BillingPlatform serves a global clientele in various industries, such as technology, financial services, media, entertainment, logistics, and communications.
The platform’s unique billing and revenue management solution enables enterprises to monetize diverse product offerings, from simple subscriptions to intricate usage-based pricing models.
BillingPlatform’s fresh funding infusion positions the company for accelerated innovation and expansion in a thriving market. With a robust portfolio of solutions, impressive customer wins, and strategic partnerships, BillingPlatform will continue its upward trajectory in revolutionizing enterprise revenue lifecycle management.
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